Hardie & Kelly Bradley Oil & Gas Inc. / Karl Energy Trust Inc.Bradley Oil & Gas Inc. / Karl Energy Trust Inc.

Receivership

On August 21, 2014. the Court of Queen’s Bench of Alberta (the “Court”) issued an order appointing Hardie and Kelly Inc. as Receiver and Manager (the “Receiver”) of Karl Energy Trust Inc. (“Karl”) and Bradley Oil & Gas Inc. (“Bradley”).

Contact person for the Receiver: Marc Kelly 403-536-8510 or mkelly@insolvency.net

Status Update as of December 1, 2015

The receivership proceeding has been completed.  There are no funds available for distribution to unsecured creditors.  The Receiver was discharged by Order of the Court on December 1, 2015.

Ownership Interest Claims Process

On May 8, 2015, the Court granted an order directing the Receiver to administer a Proof of Ownership Interest Claims Process whereby any party wishing to advance a claim of an ownership interest in any of the oil and gas assets or interests of  Karl and or Bradley must complete and forward to the Receiver, a completed Proof of Ownership Interest claim form (“Claim Form”) along with appropriate supporting documentation including proof of payment for the interest claimed by 5:00 p.m. Mountain time on Friday, June 19, 2015 (the “Ownership Interest Claims Bar Date”).

Parties not filing a Claim Form with the Receiver by the Ownership Interest Claims Bar Date will be barred and extinguished from claiming any further ownership interest in the Assets unless otherwise ordered by the Court.

The documentation necessary to submit an ownership interest claim is as follows:

Court Filings and Orders

Receiver’s Reports